2023-09-21 18:55:14
What are the savings habits of Walloon parents? It is the subject of a survey carried out by the Camille family allowance fund. We learn in particular that 60% of the families in the sample save for their offspring, and that 80% of those who do so already start before the child reaches the age of two. This survey also reveals that it is the savings account in the child’s name which is the formula preferred by 72% of families questioned, 22% choose cash while only 10% choose another formula (investment fund bank or “digital piggy bank” offered by certain financial organizations).
Even if the families surveyed prefer savings accounts, this formula is not currently very advantageous, with interest rates hovering around 2.5%. But it is understandable that parents are reluctant to take the risk of investing in the stock market. The alternative can therefore be to pay money into a fund, which is offered by certain banks which will invest it in stocks and bonds, via investment insurance or savings insurance. Parents themselves choose the pace of payments, and the investment is made in the child’s name, but the money is less readily available than in a savings account.
The money belongs to the child, even if he or she is still a minor. Parents can only recover it through legal proceedings. At 18, the child becomes an adult and can use the money as he wishes.
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